Key facts
- LIV Golf has filed for Chapter 11 bankruptcy.
- The league received court approval for $14 million in debtor-in-possession financing.
- LIV Golf plans to be majority player-owned after restructuring.
- The Saudi Public Investment Fund (PIF) will discontinue financial backing after the 2026 season.
- LIV Golf commissioner Scott O'Neil indicated plans for format changes, including expanded fields and a cut.
- Donald Trump has previously supported LIV Golf.
LIV Golf has filed for Chapter 11 bankruptcy and is seeking financial assistance from U.S. President Donald Trump to relaunch the league without the backing of Saudi Arabia's Public Investment Fund (PIF). The league announced it had secured a restructuring support agreement that would make it "majority owned by players" after its bankruptcy filings.
The U.S. Bankruptcy Court for the District of New Jersey has granted LIV Golf interim approval for its first-day Chapter 11 motions, allowing access to $14 million in debtor-in-possession financing. These approvals also permit LIV Golf to continue paying employee wages and maintain certain programs, as well as make some payments to vendors and business partners.
Commissioner Scott O'Neil stated that the league is entering a court-supervised restructuring process to address financial obligations and complete a transaction for its next phase, aiming for a stronger and more sustainable future. He noted that companies like Marvel Entertainment, Delta Airlines, and sports franchises such as the Los Angeles Dodgers have undergone similar processes. O'Neil also hinted at significant changes to the tournament format, including expanding fields to 75 players and introducing a cut, with teams embracing national identities and competitions staged across five continents.